Overview
Services

STUDIO ALICE Co.,Ltd.

Studio Alice operates a nationwide chain of children's photography studios in Japan, specializing in commemorative portrait photography for milestones such as Shichi-Go-San, newborn portraits, school entrance ceremonies, and coming-of-age events. The company offers costume rental and photography services enhanced by licensed Disney character content, providing a differentiated in-store experience. Its business is supported by in-house costume manufacturing and wholesale operations through subsidiaries, ensuring quality control and supply chain integration.

Market Cap
¥31.2B
US$199M
EV
¥13.0B
US$82.7M
Stock¥1,837▲+0.33%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
2.2
x
LTM EV/EBIT
4.9
x
LTM PER
20.0
x
LTM PBR
1.1
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-31.9%pt
100
Oct 24, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
31.2BUS$199MMarket Cap1.95BUS$12.4M+ Debt18.3BUS$117M− Cash1.91BUS$12.2M− Inv. Sec.13.0BUS$82.7MEV
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Performance & Balance
Revenue 5Y (¥B)
40.7US$259M'22/238.6US$246M'23/236.4US$232M'24/235.6US$227M'25/232.9US$210M'26/2
EBITDA 5Y (¥B)
9.61US$61.3M'22/27.98US$50.9M'23/26.53US$41.7M'24/26.77US$43.2M'25/25.54US$35.3M'26/2
Net Income 5Y (¥B)
3.61US$23.0M'22/22.26US$14.4M'23/21.16US$7.38M'24/21.37US$8.71M'25/21.16US$7.41M'26/2
Capital Structure
94%
EquityD/E 0.07xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
20.6US$131M4.49US$28.6M'22/219.2US$122M4.69US$29.9M'23/220.2US$129M4.07US$26.0M'24/221.3US$136M2.52US$16.1M'25/220.2US$129M0.95US$6.03M'26/2
Shareholders
Top 10 hold 56.6%
1
Torrance Japan Co., Ltd.
23.33%
2
FUJIFILM Corporation
20.28%
3
The Master Trust Bank of Japan, Ltd. (Trust Account)
4.32%
4
Hatsue MOTOMURA
3.02%
5
STUDIO ALICE Co.,Ltd. Employee Stock Ownership Association
2.12%
6
Taku YAMAMOTO
1.19%
7
MUFG Bank, Ltd.
1.15%
8
BofA Securities Japan Co., Ltd.
0.50%
9
BNP PARIBAS NEW YORK BRANCH - PRIME BROKERAGE CLEARANCE ACCOUNT (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)
0.38%
10
Nomura Securities Co., Ltd.
0.36%
Management
11 officers
Shunsuke MAKINO
Representative Director, President
Apr 1985 Joined the Company Nov 1998 Executive Officer Mar 2002 Director Mar 2005 Managing Director Mar 2009 Representative Director, President, Studio Alice Korea Company Limited Jan 2010 Senior Managing Director, General Manager of Merchandising Division Jan 2013 Senior Managing Director, General Manager of Sales Division Oct 2018 Representative Director, President and General Manager of Sales Division Feb 2019 Representative Director, President (current) Jan 2026 Representative Director, President, JVIS Co., Ltd. (current)
1962-09-28
Sanae FURUHASHI
Director, General Manager of Merchandising Department
Apr 1995 Joined the Company Jan 2009 Department Manager, Kanto No. 1 Sales Department, Sales Division Jan 2014 Department Manager, Hokkaido/Tohoku Sales Department, Sales Division Jan 2016 Department Manager, Kanto No. 5 Sales Department, Sales Division Mar 2018 Executive Officer, Department Manager, Store Operations Control Department, Sales Division Feb 2019 Executive Officer, General Manager of Store Operations Division Sep 2020 Executive Officer, General Manager of Store Operations Control Department Mar 2024 Executive Officer, General Manager of Sales Department Mar 2025 Executive Officer, General Manager of Merchandising Department May 2026 Director, General Manager of Merchandising Department (current)
1974-07-05
Yoshito FUKUI
Director, General Manager of Store Development Department
Apr 1998 Joined the Company Jan 2008 Department Manager, Kanto No. 4 Sales Department, Sales Division Jan 2011 Department Manager, Store Development Department, Store Development Division Jan 2013 Department Manager, Kanto No. 5 Sales Department, Sales Division Jan 2016 Department Manager, Sales Planning Department, Sales Division Mar 2018 Executive Officer, Director, Sales Planning Office, Sales Division Feb 2019 Executive Officer, Director, Sales Planning Office Mar 2020 Executive Officer, General Manager of Store Development Division Sep 2020 Executive Officer, General Manager of Store Development Department May 2026 Director, General Manager of Store Development Department (current)
1976-03-26
Shutaro TAKEZAKI
Director, General Manager of Sales Department
Jul 2000 Joined the Company Jan 2012 Department Manager, Chugoku-Shikoku Sales Department, Sales Division Jan 2017 Department Manager, Kanto No. 2 Sales Department, Sales Division Mar 2018 Department Manager, Kanto No. 2 Store Operations Department, Store Operations Control Division Mar 2019 General Manager, Kanto No. 2 Store Operations Department, Store Operations Division Mar 2020 General Manager, Kanto No. 3 Store Operations Department, Store Operations Division Mar 2021 Executive Officer, General Manager of Corporate Planning Department Mar 2025 Executive Officer, General Manager of Sales Department May 2026 Director, General Manager of Sales Department (current)
1974-02-17
Toshihiro NAKAI
Director, General Manager of Corporate Planning Department
Jan 2007 Joined the Company Jan 2014 Department Manager, Corporate Planning Department, Administration Division Jan 2015 Department Manager, Corporate Planning Department, Corporate Planning Office Jan 2017 Office Manager, Corporate Planning Office Mar 2025 Executive Officer, General Manager of Corporate Planning Department May 2026 Director, General Manager of Corporate Planning Department (current)
1969-09-21
Hiroki MOMOSE
Director
Apr 1985 Joined Nomura Securities Co., Ltd. Apr 2008 Managing Executive Officer, Osaka Branch Manager, Nomura Securities Co., Ltd. Oct 2008 Executive Officer, Osaka Branch Manager, Nomura Securities Co., Ltd. Apr 2010 Executive Officer in charge of Corporate Finance, Nomura Securities Co., Ltd. Apr 2013 Managing Director, stationed in Osaka, Osaka Branch Manager, Nomura Securities Co., Ltd. Apr 2016 Senior Managing Director, stationed in Osaka, Osaka Branch Manager, Nomura Securities Co., Ltd. Apr 2017 Senior Managing Director, stationed in Osaka, Nomura Securities Co., Ltd. Apr 2019 Advisor, Nomura Securities Co., Ltd. Jun 2019 Vice Chairman, Nomura Research Institute, Ltd. Mar 2022 Outside Director, Fujio Food Group, Inc. (current) May 2022 Director, the Company (current) Jul 2022 Vice Chairman, Bain Capital Private Equity Japan, LLC Apr 2023 Chairman, Bain Capital Private Equity Japan, LLC Apr 2025 Co-Chairman, Bain Capital Private Equity Japan, LLC (current)
1961-09-15
Akihiko MASUDA
Director (Audit and Supervisory Committee Member)
Oct 1986 Joined Ota Showa & Co. (now EY ShinNihon LLC) Mar 1990 Registered as Certified Public Accountant Oct 2007 Chairman, Kinki Practical Training Committee, Japanese Institute of Certified Public Accountants Jul 2009 Senior Partner, ShinNihon LLC (now EY ShinNihon LLC) Jun 2013 Vice President, Kinki Chapter, Japanese Institute of Certified Public Accountants Jul 2013 Director, Japanese Institute of Certified Public Accountants Jul 2016 Managing Director, Japanese Institute of Certified Public Accountants May 2020 Director (Audit and Supervisory Committee Member), the Company (current)
1959-01-01
Sayaka AMEMIYA
Director (Audit and Supervisory Committee Member)
Mar 2003 Graduated from Faculty of Law, Kyoto University Oct 2004 Registered as attorney-at-law Oct 2004 Attorney, Yodoyabashi-Yamagami Law Firm (current) Mar 2015 Audit & Supervisory Board Member, the Company Mar 2016 Director (Audit and Supervisory Committee Member), the Company (current) Aug 2020 Outside Director (Audit and Supervisory Committee Member), TONE Co., Ltd. (current)
1978-08-12
Masato YAMAMOTO
Director
Apr 1986 Joined Fuji Photo Film Co., Ltd. (now FUJIFILM Corporation) Jun 2017 Director, Executive Officer, General Manager of Corporate Planning Division, FUJIFILM Corporation Sep 2017 Deputy General Manager, Corporate Planning Department, FUJIFILM Holdings Corporation; Director, Executive Officer, General Manager of Corporate Planning Division, FUJIFILM Corporation Apr 2018 Executive Officer, President of FUJIFILM Europe GmbH and FUJIFILM Europe B.V., FUJIFILM Corporation Jun 2020 Director, Executive Officer, General Manager of Optical & Electronic Imaging Business Division, FUJIFILM Corporation Apr 2021 Director, Executive Officer, General Manager of Imaging Solutions Business Division, FUJIFILM Corporation Jun 2021 Director, Managing Executive Officer, General Manager of Imaging Solutions Business Division, FUJIFILM Corporation Jun 2022 Director, Managing Executive Officer, General Manager of Imaging Solutions Business Division; in charge of Imaging Solutions R&D Center and regional subsidiaries in Europe, Middle East, Africa, Asia and Pacific, FUJIFILM Corporation May 2023 Director, the Company (current) Jun 2023 Director, Senior Managing Executive Officer, General Manager of Imaging Solutions Business Division; in charge of Imaging Solutions R&D Center and regional subsidiaries in Europe, Middle East, Africa, Asia and Pacific, FUJIFILM Corporation Apr 2025 Director, Senior Managing Executive Officer, General Manager of Imaging Solutions Business Division; in charge of Imaging Solutions R&D Center, FUJIFILM Corporation Jun 2025 Director, Vice President, General Manager of Imaging Solutions Business Division; in charge of Imaging Solutions R&D Center, FUJIFILM Corporation (current)
1963-01-17
Ikuko FUCHI
Director
Jan 2007 Joined Fukuoka SoftBank HAWKS Marketing Co., Ltd. (now Fukuoka SoftBank HAWKS Corporation) Jun 2018 Office Manager, Inbound Promotion Office, New Business Promotion Division, Fukuoka SoftBank HAWKS Marketing Co., Ltd. Feb 2021 Established Mam Project Co., Ltd.; Representative Director, President (current) Feb 2023 Representative Director, Japan Femtech Meister® Association (current) May 2024 Director, the Company (current)
1968-03-28
Yumi SANO
Director (Audit and Supervisory Committee Member)
Apr 1984 Joined Shikishima Spinning Co., Ltd. (now Shikibo Ltd.) Apr 2004 Department Manager, Membership Department, Kansai Association of Corporate Executives (now Kansai Economic Federation) Apr 2014 Director, Kansai Office, 21st Century Job Foundation (current) Jun 2017 Director, Sakai Chemical Industry Co., Ltd. Jun 2021 Director, Sanyo Chemical Industries, Ltd. (current) Jun 2024 Director, Sumitomo Densetsu Co., Ltd. (current) Jun 2025 Director, Ishihara Sangyo Kaisha, Ltd. (current) May 2026 Director (Audit and Supervisory Committee Member), the Company (current)
1961-08-20
Large Shareholding Reports
No filings
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-10-15
Semi-Annual Securities Report
Period: Mar 2026 – Feb 2027
TDnet
2026-10-14
Q2 Earnings Flash
FY ending Feb 2027
TDnet
2026-07-13
Q1 Earnings Flash
FY ending Feb 2027
EDINET
2026-05-27
Annual Securities Report
Period: Mar 2025 – Feb 2026
TDnet
2026-01-14
Q3 Earnings Flash
FY ending Feb 2026
EDINET
2025-10-14
Semi-Annual Securities Report
Period: Mar 2025 – Feb 2026
TDnet
2025-07-14
Q1 Earnings Flash
FY ending Feb 2026
EDINET
2025-05-28
Annual Securities Report
Period: Mar 2024 – Feb 2025
TDnet
2025-01-10
Q3 Earnings Flash
FY ending Feb 2025
EDINET
2024-10-15
Semi-Annual Securities Report
Period: Mar 2024 – Feb 2025
EDINET
2024-07-12
Quarterly Securities Report
Period: Mar 2024 – May 2024
TDnet
2024-07-11
Q1 Earnings Flash
FY ending Feb 2025
EDINET
2024-05-29
Annual Securities Report
Period: Mar 2023 – Feb 2024
EDINET
2024-01-10
Quarterly Securities Report
Period: Sep 2023 – Nov 2023
EDINET
2023-10-13
Quarterly Securities Report
Period: Jun 2023 – Aug 2023
EDINET
2023-07-14
Quarterly Securities Report
Period: Mar 2023 – May 2023
EDINET
2023-05-31
Annual Securities Report
Period: Mar 2022 – Feb 2023
EDINET
2023-01-11
Quarterly Securities Report
Period: Sep 2022 – Nov 2022
EDINET
2022-10-13
Quarterly Securities Report
EDINET
2022-07-12
Quarterly Securities Report
EDINET
2022-05-27
Annual Securities Report
EDINET
2022-01-14
Quarterly Securities Report
EDINET
2021-10-12
Quarterly Securities Report
EDINET
2021-07-13
Quarterly Securities Report
EDINET
2021-05-31
Annual Securities Report
EDINET
2021-01-13
Quarterly Securities Report
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